Form 4: Cactus, Inc. COO Steven Bender Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Steven Bender, Chief Operating Officer of Cactus, Inc., reports transactions involving Class A Common Stock and Restricted Stock Units.
Summary
- On March 11, 2024, Steven Bender, the Chief Operating Officer of Cactus, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The transactions included the vesting of restricted stock units, the acquisition of Class A Common Stock, and the withholding of shares to cover tax obligations.
- Bender acquired shares through the vesting of restricted stock units and performance share units.
- He also disposed of shares to satisfy tax withholding requirements.
- Following these transactions, Bender directly owns 57,567 shares of Class A Common Stock and 108,131 Restricted Stock Units.
- The reported transactions were made pursuant to the vesting schedule of previously granted restricted stock units and performance share units.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The transactions are routine and reflect the executive's ongoing investment in the company. The vesting of restricted stock units and performance share units suggests that performance goals are being met.
Positives
- The vesting of restricted stock units and performance share units indicates that the COO is meeting performance milestones.
- The grant of new restricted stock units aligns the COO's interests with the long-term success of the company.
Future Outlook
The reporting person holds a significant amount of restricted stock units that will vest in the future, aligning their interests with the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the COO's ongoing investment in the company.
Stakeholder Impact
- The transactions reported have a minimal direct impact on stakeholders.
- The vesting of restricted stock units and performance share units aligns management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/11/2021 | Reporting person was granted 9,343 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/11/2022 | Reporting person was granted 7,752 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/10/2023 | Reporting person was granted 13,748 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 12/31/2023 | End of the three-year performance period for performance share units granted in 2021. |
| 03/11/2024 | Date of transactions reported, including vesting of restricted stock units, acquisition of Class A Common Stock, and grant of new restricted stock units. |
| 03/13/2024 | Date of Form 4 filing. |
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